Gold, silver prices surge on strong global cues

While gold zoomed up by Rs 410 to Rs 30,810 per ten gram, silver jumped up by Rs 990 to Rs 51,200 per kg on increased offtake by stockists on the back of firm global trend.

Sentiment turned bullish after gold jumped the most in 15 months in overseas markets after the Federal Reserve unexpectedly refrained from reducing the pace of monthly US bond purchases, increasing demand for the metal as a store of value, traders said.

Gold in New York, which normally set price trend on the domestic front, shot up by $55.30 to $1360.30 an ounce and silver by 5.64 per cent to $23.04 an ounce.